Paraxylene (PX) Market Overview

Paraxylene (PX), a sweet-smelling hydrocarbon, is derived from benzene product. Paraxyleneis vapid, transparent, profoundly combustible, and poisonous chemical. It is formed through the catalytic reforming of oil subordinates and can be isolated through crystallization, refining, and response of ethylbenzene. It is normally present in coal tar and petroleum that can be artificially obtained from benzene. It is fundamentally used as crude material inthe production of industrial chemicals and is generally utilized as an is omer to produce pure terephthalic acid (PTA), di methyl terephthalate (DMT) and di-paraxylene(DI-PX).

Increase in demand forpure paraxylene (PX) in the manufacturing of polyester and PET bottles drives the market growth.In addition, rapid urbanization and increase in population around the globe are expected to drive the textile industry, which further fuel the market demand during the forecast period. Rise in application in constructionand electrical, and electronics industry are expected to fuel the demand for paraxylene in the production of electrical insulation, x-rays, and different fabrics. However, stringent government regulations and initiatives enforced to reduce the usage of non-renewable products for packaging hamper the future growth. In addition, due to limited number of manufacturersand local distributors, the market is restricted to a certain number of customers. Increase in usage of bio-based paraxylene in bio plastic PET bottles (Bio-PET) and other bioplastic applications, such as catering utensils is expected to create further opportunities.

The paraxylene (PX) market is segmented into product type, applications, end-user and regions. By product type, the market divided intoPure Terephthalic Acid (PTA), Di Methyl Terephthalate (DMT), Di-Paraxylene (DI-PX) and others. Both the chemicals, Pureterephthalic acid (PTA) and Di Methyl Terephthalate (DMT) have major applications in polyester manufacturing. By application, the market is divided into solvents, pesticides, coatings and others. By end user, the market is divided into cosmetics, textile industry, construction and others. . By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East and Africa).

Some of the key players operating in the global paraxylene (PX) market are Chevron Phillips Chemical Company, Reliance Industries Limited, Mitsubishi International Corporation, GS Caltex Corporation, BP Petro chemicals, JXTG Oil and Energy, Reliance Industries Ltd.,   CNPC International Limited, S-Oil Corporation, Teijin Fibers, Lotte Chemical, and others.

Key Benefits for Stakeholders:

• The global paraxylene (PX) market size has been analyzed across four major regions.

• Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario for strategy building.

• The report outlines the current market trends and future scenario of the market size from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.

• Major countries in each region have been mapped according to their individual revenue contribution to the regional market.

• The key drivers, restraints, opportunities, and trends along with their detailed impact analysis are elucidated in the study.

• The global paraxylene (PX) market analysis covers in-depth information of the major industry participants.

Scope of the Report:

Key Market Segmentation:

Questions answered in the refractories market research report:

• What is the growth rate of the market during the forecast period?

• What will be the global paraxylene (PX) market size from 2019 to 2027?

• Who are the leading manufacturing companies in the market?

• How the major current trends will shape the global paraxylene (PX) market in the future?

• What are the threats in the market?

• What are the opportunities in the global paraxylene (PX) market?